Experience highquality instruction with our selfstudy videos, available to you 247. Qualifies for yellow book cpe credit the gaos yellow book standards set a high bar for government performance auditors. In many ways fastest growing area of government engagement, even though been in practice since 1970s. They might say, you must do something, thats an unconditional requirement. Single audit primer and update yellow book cpe 041917. Surgents selfstudy yellow book package cpe for cpas. There is no formal preapproval process for the mncpa or any other sponsor to qualify a course for yellow book credit. Below we will address 1 who is subject to the yellow book cpe requirements and 2 what cpe classes satisfy those requirements. Cpe stands for continuing professional education, by the way. New yellow book expands performance audit guidance.
May be easier to understand for citizens and decisionmakers. Today most cpas and governmental auditors are on the go and cant always wait to take their required yellow book cpe courses to maintain their license. This document provides guidance to auditors and audit organizations in implementing the continuing professional education cpe requirements prescribed by the government auditing standards yellow book issued by the comptroller general of the united states of the government accountability office gao. Auditors must use professional judgment when determining and documenting if a seminar qualifies for yellow book in accordance with the government accountability office, government auditing standards, december 2011 revision and guidance on gagas requirements for continuing professional education. The generally accepted government auditing standards, also known as the yellow book, provides a framework for conducting highquality audits with. You will learn about the roles and responsibilities associated with single audits and how to comply with all relevant rules and regulations. Complete these two courses one video and one selfstudy to make sure that the only product your audit client is likely to see is readable and interesting.
This event may be a rebroadcast of a live event and. Nov 15, 2018 recall the concepts and guidance found in the yellow book. The yellow book is used by cpas and governmental auditors who audit the federal government, state governments, and even local governments. Audit evidence yellow book series cpe for cpas home. As we cover the key steps of performing an audit including risk assessment, objective setting, evidence gathering, audit documentation. Government auditing standards, commonly known as the yellow book.
Define terminology found in the yellow book regarding audits. Jun 19, 2019 the different types of yellow book audit and attestation engagements that auditors may be called upon to perform. Is it time for you to know the yellow book really know it. Yellow book style yb02 cpe credit offers cpa courses and testing materials as well as online courses. Government auditing standards yellow book practice aids. Yellow book continuing education requirements are governed by the u. Learn the yellow book requirements for financial statement audits, attestation engagements, and performance audits. With surgents yellow book package, you are free to choose 24 hours of cpe from a variety of 8hour and 4hour courses in an online download format, for the ultimate in convenience and flexibility. Yellow book and single audit workpaper documentation cpe.
Get all your yellow book auditing cpe requirements for cpas in one convenient location, right here on. Yellow book auditing cpe for cpas yellow book courses. For instance, the yellow book performance audit standards require granular documentation and reporting on internal controls. What are the requirements for yellow book continuing professional education cpe. One yellow book hour 50 minutes equivalent to a cpe hour. Yellow book cpe requirements a summary cpa hall talk.
The main audit standards addressed in the yellow book relate to. Performance audit standards for internal controls good for all with leita hart fanta, cpa, cgfm, cgap yellowbookcpe. In addition to financial audits, the yellow book standards cover performance audits, which evaluate the performance of a program or project against defined objectives, such as objectives for efficiency and effectiveness. Auditors hired or initially assigned to yellow book assignments after the beginning of the audit organizations 2year cpe period should complete a prorated number of cpe hours see gaos guidance on gagas requirements for continuing professional education. In this webinar workshop, learn how to define risks and apply controls to mitigate the risks without creating a burdensome bureaucracy. The gaos 2014 green book standards for internal control in the federal government will be our guide. Identify the additional requirements for performing a financial statement audit under government auditing standards. Our audit cpe courses on the yellow book will highlight the latest developments at the u. In this course, you will learn many aspects of single audits and more. Yellow book financial audits american institute of. Continuing professional education cpe oklahoma state auditor. The cpe is expected to last two hours in the morning.
The bootcamp 6 video series includes 6 online videos and selfstudy manual including presentation slides for. Good idea to obtain cpe specifically on gagas this year and next due to the revisions in the. This program discusses the significant issues in yellow book financial statement audit engagements, including deficiencies in audit procedures performed, the auditors reporting, and financial statement and compliance deficiencies that can lead to modified opinions. Special attention will be given to chapters, focusing on ethics, recent revisions to independence rules, and cpe requirements. It outlines the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. Auditors hired or initially assigned to gagas audits after the beginning of an audit organizations 2year cpe period should complete a prorated number of cpe. The gaos yellow book auditing standards also known as gagas set a high bar for auditors of government programs. Yellow book cpe selfstudy courses round out surgents offering of auditing cpe courses. Why are my auditors doing a yellow book and single audit.
The yellow book includes audit standards and guidance for both financial and performance audits. The federal government demands a lot of a grantee and their auditor. One of the toughest aspects of doing a yellow book audit is complying with the yellow book cpe requirements. Recognize the additional reporting requirements for financial audits. Identify and describe the types and weights of evidence available to auditors and the audit procedures or tests that may be employed to secure and evaluate audit evidence.
A complete guide to the new yellow book cgyb youtube. Qualifies for yellow book cpe credit how do you make sure bad things dont happen. I am retired state government auditor that was involved in yellow book audits and i found this session to be very informative. Please either for an open course or event or contact a salesperson at 800. Each course qualifies for 8 hours of yellow book cpe training credit. Let leita be your guide as she converts the gao s government auditing standards into plain english and helps you apply its. Illustrate the linkage between audit evidence, audit risk, and internal controls. Yellow book and single audit deficiencies accounting. Stay uptodate with yellow book cpe courses from surgent. Government auditing standards yellow book practice aids and. The yellow book provides standards and guidance for auditors and audit organizations, outlining the requirements for audit reports, professional qualifications for auditors, and audit organization quality control. The gao does not want auditors claiming that they performed an audit according to standards if they havent met yellow book cpe. Auditors of federal, state, and local government programs use these standards to perform their audits and produce their reports.
Click here to see the course options for this package. Yellow book standards for performance auditors cpe 0116. Key acronyms and terminology are explained in plain english. Financial audit standards require that auditors state their objectives using management assertions. The yellow books standards and guidance for auditors and audit organizations provide critical information for federal, state, and local government programs regarding audit reports, professional qualifications for auditors, and audit organization quality control. Feb 24, 2020 the gao and the yellow book uses three different terms when theyre basically telling me what to do on an audit. Qualifies for yellow book cpe credit single audits are different.
Nov 10, 2015 the panel will discuss best practices for documenting the contents, sequence and format of audit documentation for engagements involving federal funds recipients, and other gagas audits. Governmental auditing, these learning resources are designed to help cpas understand the knowledge and skills necessary to perform highquality single audits, yellow book audits, and audits of state and local government financial statements. And the requirements are a little bit involved so involved that the gao dedicated 17 pages. Other government auditing standards, used by supreme audit institutions. This is a handson, highly practical guide to efficiently preparing highquality yellow book audit workpapers. The 2018 revision moves the standards around, reemphasizes audit independence, and increases the auditors responsibilities for assessing, documenting, and disclosing internal controls. Special attention is given to common single audit deficiencies, best practices, efficient and effective methods to test internal controls and compliance requirements including sampling techniques, and development of meaningful audit findings. To provide financial professionals who serve or audit government and notforprofit organizations with a systematic approach to reporting on single audits. The 80hour rule every two years the 24hour rule every two years then you must answer.
This 6 video series will give you the confidence you need to take on any audit assignment. Nasba as a sponsor of continuing professional education on the national registry of cpe sponsors. Well, the yellow book is generally accepted government auditing. The new director of finance for the agency for art endowment was perplexed. Show how audit standards establish requirements for securing and evaluating audit evidence.
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